OKLO

Advanced Fuel Supply, Recycling, and Fabrication

Cluster Description

Building a resilient domestic advanced nuclear fuel ecosystem through recycling, fabrication, and diversified sourcing; newer items expand and advance earlier MOUs and strategy rather than supersede them.

Commitments

• October 01, 2025: Build and operate three fuel-fabrication facilities under DOE’s Fuel Line Pilot Projects to strengthen domestic advanced fuel supply (three facilities).
• September 29, 2025: Provide fuel fabrication services to Blykalla to support cross-border advanced reactor commercialization.
• September 04, 2025: Design, build, and operate a fuel recycling facility in Tennessee as the first phase of an Advanced Fuel Center.
• September 04, 2025: Invest up to $1.68 billion to fund the Advanced Fuel Center program.
• September 04, 2025: Begin producing metal fuel for Aurora powerhouses by the early 2030s, subject to regulatory approvals.
• September 04, 2025: Explore collaboration with TVA to recycle TVA’s used fuel and evaluate potential power sales from future Oklo powerhouses.
• September 04, 2025: Advance NRC licensing and pre-application engagement for the Tennessee fuel recycling facility.
• August 11, 2025: Explore co-location of a Lightbridge fuel fabrication facility within Oklo’s planned advanced fuel manufacturing campus to accelerate advanced fuel commercialization, advancing the January 28, 2025 MOU.
• August 11, 2025: Execute a comprehensive fuel strategy leveraging DOE stockpiles, commercial enrichment partners (Centrus, Hexium), and recycling to secure HALEU and next-generation fuel supplies.
• August 11, 2025: Leverage government alternative fuel materials, including down-blended plutonium, to fuel dozens of early units without further enrichment under recent executive orders.
• May 28, 2025: Support executive orders restoring the U.S. nuclear fuel supply chain and prioritize use of domestic nuclear feedstock for early projects.

Aurora-INL Deployment and Federal Projects

Cluster Description

Advancing the first commercial Aurora powerhouse and federal deployments from site prep to construction, with the October 1, 2025 update moving from groundbreaking to active construction status.

Commitments

• October 01, 2025: Construct the first Aurora powerhouse at Idaho National Laboratory, updating the September 22, 2025 groundbreaking to active construction status.
• September 22, 2025: Engage Kiewit Nuclear Solutions as lead constructor under a Master Services Agreement to deliver design, procurement, and construction for Aurora-INL.
• September 22, 2025: Participate in DOE’s Reactor Pilot Program with Aurora-INL among awarded projects to accelerate advanced nuclear deployment and licensing modernization.
• September 22, 2025: Advance toward completing DOE authorization and fabricating the initial reactor core at the Aurora Fuel Fabrication Facility at INL, with two of four authorization steps completed.
• September 22, 2025: Create approximately 370 construction jobs and 70–80 long-term skilled roles for the powerhouse and Aurora Fuel Fabrication Facility.
• August 13, 2025: Participate in three Reactor Pilot Program projects targeting criticality in at least three test reactors by July 4, 2026.
• August 11, 2025: Target commercial operations for the first Aurora powerhouse between late 2027 and early 2028.
• August 11, 2025: Progress next steps to deliver electricity and heat to a U.S. Air Force base under a long-term purchase agreement following intent-to-award selection.
• June 11, 2025: Design, construct, own, and operate a power plant to provide clean power to Eielson Air Force Base under a long-term power purchase agreement.
• May 13, 2025: Complete site characterization borehole drilling at INL to support the Aurora powerhouse combined license application.
• March 20, 2025: Commit to strict environmental stewardship and efficient development under agreements with DOE and INL during site investigation and construction.
• November 07, 2024: Complete environmental compliance and initiate site characterization for the first commercial advanced fission power plant after receiving an Environmental Compliance Permit.

Licensing and Regulatory Modernization

Cluster Description

Streamlining licensing through topical reports, readiness assessments, and transparent tracking; later actions (e.g., PDC acceptance) add to and accelerate earlier efforts rather than replace them.

Commitments

• September 30, 2025: Secure NRC acceptance for review of the Principal Design Criteria topical report on an accelerated timeline, with a draft evaluation expected in early 2026.
• August 21, 2025: Advance a product-based operator licensing framework to enable operators licensed to the Aurora design to monitor multiple plants from a central location.
• August 11, 2025: Plan to file Phase One of the Aurora-INL combined license application in early Q4 after incorporating NRC feedback.
• August 11, 2025: Maintain a public regulatory dashboard to transparently track powerhouse, fuel, and radioisotope licensing progress.
• July 17, 2025: Complete NRC pre-application readiness assessment for Phase 1 of the Aurora-INL COLA with no significant gaps, preparing to submit within 2025.
• June 10, 2025: Obtain NRC acceptance for review of the Licensed Operator Topical Report to enable faster operator licensing tied to the Aurora technology rather than site-specific plants.
• June 10, 2025: Pursue an integrated licensing pathway that combines design, construction, and operation into one application to reduce re-reviews in future filings.
• March 24, 2025: Initiate NRC pre-application readiness assessment engagement for the Aurora combined license application to streamline formal review and commercialization.

Technology, Manufacturing, and Supply Chain Readiness

Cluster Description

Reducing technical and schedule risk via full-scale testing, materials validation, and coordinated supplier strategies; recent testing and supplier coordination build directly toward manufacturability.

Commitments

• September 29, 2025: Coordinate with Blykalla on shared suppliers and reactor-agnostic equipment to improve availability, schedules, and costs.
• September 29, 2025: Supply select components to Blykalla to strengthen a vertically integrated, cross-border supply chain.
• September 29, 2025: Pursue joint targeted R&D and regulatory analysis with Blykalla to increase reliability and lower lifecycle costs without design changes.
• September 25, 2025: Validate a prototypical fuel-assembly design through full-scale flow testing at Argonne to benchmark models and advance toward production.
• September 25, 2025: Measure pressure drop and flow distribution across operating conditions to benchmark simulations for the fuel assembly.
• September 25, 2025: Use Argonne test data to set manufacturing parameters for the fuel-assembly design.
• September 25, 2025: Combine Argonne’s experimental capabilities with Oklo’s prototypic build capabilities to support cost-effective production of large-scale components.
• February 25, 2025: Participate in DOE’s voucher program to evaluate and test advanced structural materials for Aurora to enhance manufacturability and scalability.

Strategic Partnerships and Customer Solutions

Cluster Description

Scaling demand and deployment through partnerships for data centers, industrial customers, and global manufacturing; newer agreements extend earlier customer commitments without superseding them.

Commitments

• August 21, 2025: Sign an MOU with ABB to explore collaboration on digitalization, automation, and electrification of future powerhouse sites and joint R&D for data center integration.
• August 21, 2025: Commission a digital monitoring room equipped with ABB technology to anchor operator training and simulation for Aurora deployment.
• July 23, 2025: Launch a strategic alliance with Liberty Energy to offer turnkey managed power solutions that transition customers from natural gas to Oklo nuclear baseload.
• July 22, 2025: Co-develop integrated power and thermal management solutions with Vertiv for data centers using Aurora steam and electricity, with a pilot at the initial Aurora powerhouse.
• May 27, 2025: Sign an MOU with KHNP to collaborate on design verification, manufacturability, constructability, and global deployment of Aurora technology.
• January 17, 2025: Partner with RPower to deploy a phased power model for data centers that starts with natural gas generation and transitions to Aurora powerhouses.
• December 18, 2024: Establish a non-binding Master Power Agreement with Switch to deploy up to 12 GW of Aurora power across the U.S. through 2044.
• November 14, 2024: Enter a strategic partnership with Equinix for 500 MW of power provision, including a $25 million prepayment.
• November 13, 2024: Sign letters of intent with two major data centers for up to 750 MW of low-carbon power using Aurora powerhouses in 15 MW and 50 MW configurations.

Radioisotopes and Business Diversification

Cluster Description

Building a domestic radioisotope supply chain via acquisition, licensing, and site development; the March 5, 2025 acquisition closes and supersedes the November 2024 proposed deal.

Commitments

• August 11, 2025: Advance Atomic Alchemy’s demonstration isotope production facility with site characterization underway and an NRC materials license application submitted to enable early revenue.
• June 17, 2025: Commence site characterization for a commercial radioisotope production facility at INL to build a reliable domestic supply.
• May 13, 2025: Target initial radioisotope revenue as early as 2026 with full commercial operations by 2028.
• March 05, 2025: Acquire Atomic Alchemy to establish U.S.-based radioisotope production, diversify revenue, and integrate complementary technologies with fuel recycling.

Financial Strength and Capital Plan

Cluster Description

Maintaining liquidity and disciplined spend to fund licensing, construction readiness, and growth; later financing actions and guidance confirm and expand earlier plans.

Commitments

• August 11, 2025: Maintain full-year 2025 cash used in operating activities guidance of $65–$80 million while evaluating modest CapEx acceleration into 2025.
• August 11, 2025: Strengthen liquidity with $460 million gross equity financing completed June 12 and quarter-end cash and securities of approximately $683 million to fund licensing and construction readiness.
• June 12, 2025: Price a public offering of common stock to raise approximately $400 million in gross proceeds for general corporate purposes, working capital, capital expenditures, and potential investments.
• June 11, 2025: Announce a proposed $400 million public offering with a $60 million underwriter option, expected to close June 16, 2025.
• May 13, 2025: Commit to transparent financial reporting with quarterly updates and projected 2025 operating cash use of $65–$80 million.
• March 30, 2025: Fund operations and growth for at least 12 months using existing cash and marketable securities while increasing R&D investment and G&A to support scaling.